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Lake Shore Saving Banks’ CFO completes American Bankers Association Stonier Graduate School

August 13, 2015
Westfield Republican

Rachel A. Foley, Chief Financial Officer and Treasurer of Lake Shore Bancorp, Inc. and Lake Shore Savings Bank, recently graduated from the American Bankers Association Stonier Graduate School of Banking in Philadelphia.

"Stonier has given me an unparalleled education from the best in the financial services industry as well as the opportunity to exchange information and ideas with peers and to enhance my leadership skills," said Ms. Foley.

Stonier is ABA's national graduate school of banking, an intensive three-year program for bank executives. Students are from the United States and international banks of all sizes, as well as state and federal regulatory agencies and other financial services organizations. This is the school's 80th year, and it was held June 4 - 11, 2015 at the University of Pennsylvania.

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Rachel A. Foley

"Ms. Foley is a key member of Lake Shore Savings Bank and her training at Stonier will help us identify the challenges our community bank faces and create permanent solutions," said Daniel P. Reininga, President and CEO of Lake Shore Bancorp, Inc.

Since its inception in 1935, more than 20,000 students have followed a curriculum of more than 45 courses and enjoyed networking opportunities with more than 600 fellow students. Between sessions, students keep up with trends by completing additional extension and online course-work. The program culminates with the Capstone Strategic Project, where students develop comprehensive business projects for their financial institutions.

Ms. Foley has been the Chief Financial Officer and Treasurer of Lake Shore Bancorp, Inc. and Lake Shore Savings Bank since 2006. She served as Controller of Lake Shore Savings Bank from 1999 until 2006. Prior to Lake Shore Savings Bank, Ms. Foley was a Financial Audit Supervisor at M&T Bank in Buffalo, NY. Ms. Foley is a graduate of the University at Buffalo School of Management, where she obtained a Master's degree in Business Administration. She also obtained a Bachelor's of Science degree in Economics from Allegheny College.

About Lake Shore

Lake Shore Bancorp, Inc. (NASDAQ Global Market: LSBK) is the mid-tier holding company of Lake Shore Savings Bank, a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has $481.6 million in assets as of June 30th, 2015 and eleven full-service branch locations in Western New York, with five locations in Chautauqua County, New York and six locations in Erie County, New York. The Bank offers a broad range of retail and commercial lending and deposit services. The Company's common stock is traded on the NASDAQ Global Market as "LSBK." Additional information about the Company is available at



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